What’s Next for BSA/AML Compliance Under Trump 2.0

The Trump Administration has prioritized deregulation, aiming to reduce compliance costs under the Bank Secrecy Act (BSA).
JD Supra

ICBC Settles AML/BSA and CSI Matters with DFS, Fed: Three Take-Aways

Earlier this month, the New York State Department of Financial Services (“DFS”) and the Federal Reserve Board of Governors (“FRB”) announced settlements with the Industrial and Commercial Bank of ...
Law

AML Compliance & The Bank Secrecy Act: Global Solutions for Global Problems

King and Spalding partner Matt Biben and counsel Joshua Roberts discuss the Bank Secrecy Act and evaluate potential reforms, including some under current consideration by Congress, as well as emerging ...
JD Supra

Bank Secrecy Act’s Anti-Money Laundering and Counter Terrorism Financing Requirements to Apply to Investment Advisers

The Bank Secrecy Act (“BSA”) establishes program, recordkeeping, and reporting requirements for certain financial institutions to combat and detect money laundering, terrorist financing, and other ...
Compliance Week

Underfunding of BSA/AML compliance made TD Bank an unwitting partner to cross-border crime

Law enforcement officials stumbled on TD Bank’s role in money laundering while investigating a Mexican drug cartel. They found that the bank’s corporate culture considered compliance, particularly ...
The National Law Review

Community Banks and BSA/AML Compliance: The OCC’s Consent Order with Clear Fork Bank Proves Regulators Aren’t Only Focused on Large Financial Institutions

We collaborate with the world's leading lawyers to deliver news tailored for you. Sign Up for any (or all) of our 25+ Newsletters. Some states have laws and ethical rules regarding solicitation and ...
Compliance Week

OCC orders Bank of America to shore up BSA/AML, sanctions compliance programs

Bank of America (BofA) avoided a monetary penalty in agreeing to settle charges with the Treasury Department’s Office of the Comptroller of the Currency (OCC) but was ordered to shore up previously ...
American Banker

OCC tells Florida community bank to step up AML oversight

A Maitland, Florida bank has agreed to revamp its money laundering oversight program after being cited by the Office of the Comptroller of the Currency. Axiom Bank entered into a formal agreement with ...
Corporate Compliance Insights

DOJ, FinCEN Reach Resolutions With Virtual Asset Trading Platform Over AML Violations

The DOJ and FinCEN reached resolutions with Paxful, a US-based virtual currency trading platform, over Bank Secrecy Act and AML ...
WRIC

Premier BSA/AML Gaming Conference Returns to Las Vegas

This year's event features presentations from some of the most influential figures in financial crime enforcement and policy: Guy Ficco, Chief of IRS-Criminal Investigation (CI), who oversees a global ...
Seeking Alpha

Jason Wingo Joins Coastal Community Bank as Head of BSA/AML Strategy and Solution Management

EVERETT, Wash., Feb. 02, 2024 (GLOBE NEWSWIRE) -- Coastal Financial Corporation (CCB), the bank holding company for Coastal Community Bank, announced that Jason Wingo has joined the Bank as Senior ...